Nifty Technicals Today

Hi friends,
                  Nifty yesterday went above 6250 which suggests i need to get in alternate
count too in picture.
A triangular shape is emerging on nifty.

 Looking closely the move up from the low i read it as ..

 

So i am looking for a small dump followed by some sideways move and head higher
for e wave.
Lets see how nifty unfolds

TCS Technical chart

Hi friends,
                  Revisiting TCS chart ,Had posted this on dec 29th stating at least 2300 was possible
even higher levels today stock crossed 2300 and closed above it with handsome gains
Refer to old post TCS TECHNICAL CHART .

Present situation positional traders can look to book profit more patient ones
can hold with traling sl at 2300.

The steep channel was broken upward at 2300+.

Nifty Technical chart Analysis

Hi friends,
                   Revisiting nifty again its been in same range for about a week now
6250 to 6140 either side break we can expect some trending move,Retest of breakdown
trendline took place yesterday,I expect one more retest by this week to complete pattern
for down sidemove to continue.

Lets wait for the range to break ,To witness a trending move ,Last week saw many intra whipsaws
which took lot of intrday stoplosses.

Trade wisely

Regards
Rish

Few Technical charts we discussed

Hi friends,
                    Last week i disccused here RCOM and BOB charts and showed on chart how a short
term weakness was visible on chart which can be used as a short opportunity.
When i was discussing RCOM the rate was 131+ link to chart RCOM
We can see the stock has already fallen from 131+ to 121.

Next chart I discussed was BOB ,This stock I mentioned both long and short opportunities,
Lets see the respective charts.
For long opportunity the stock moved from 650 to 680+  have a look at the chart BOB LONG
For short opportunity the stock fell from 680 to 610 have a look at the chart BOB SHORT

My point of sharing these charts was to show how market moves in waves with experience
we can point out repetive powerfull patterns which help in predicting future moves,Of course
at time we get it wrong in that case stop loss takes care of it.Try learning wave theory
The Eliiottwave theory ,I have put a nice piece on elliottwave theory on my blog readers can go through it its explained in detail Trading Elliottwaves

Regards
Rish